German Stocks Hit 4000 | Business| Economy and finance news from a German perspective | DW | 02.01.2004
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German Stocks Hit 4000

German stocks started out strong in the new year, with the DAX Index hitting 4000 for the first time since July 2002. Gains by Adidas-Salomon, SAP and Bayrische Motoren Werke led the surge. Adidas said it expected a 10 percent profit gain this year as demand for its shoes soared in the United States. Both BMW and SAP were said to benefit from expectations of a U.S. recovery. The DAX climbed 44.49 points, or 1.1 percent, to 4,009.65 for a weekly gain of 2.7 percent.